Finance & Insurance Manager

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Job Description
Job Title: Finance & Insurance Manager
Department:
Reports To:
FLSA Status:
Prepared By:
Prepared Date:
Approved By:
Approved Date:
Revised Date:
SUMMARY
Produces additional revenue for the dealership by selling finance and insurance programs and other appropriate after-sale items to new- and used-vehicle customers.
ESSENTIAL DUTIES
Essential Duties include the following. Other duties may be assigned.
Sells financing and credit life, accident, and health insurance to customers.
Provides customers with thorough explanation of aftermarket products and extended warranties.
Converts cash deals to finance.
Establishes and maintains good working relationships with several finance sources, including the manufacturer.
Processes finance and lease deals accurately and fairly through financial sources to secure approval.
Conducts business in an ethical and professional manner.
Processes all federal, state, and dealer paperwork related to vehicle transaction.
Understands and complies with federal, state, and local regulations that affect the new- and used-vehicle and finance departments. Takes all steps necessary to ensure that these laws are complied with.
Completes paperwork necessary for vehicle sales and leases in a timely and efficient manner.
Checks all paperwork for correct title, lien information, taxes, etc., before forwarding to accounting.
Acquires and maintains current state insurance license, completing continuing credit insurance education as needed.
Provides customers with complete explanation of manufacturer and dealership service procedures and policies.
Seeks new lending institutions to secure competitive interest rates and finance programs continually.
Manages the alternative finance source program to ensure that several sources are available.
Seeks insurance companies for insurance paper.
Maintains insurance files.
Sets up and maintains a program which will ensure 100 percent turnover to the F& I department.
Provides sales force and sales managers with current information about finance and lease programs continually.
Trains the sales staff regarding the benefits of financing, insurance and extended service programs.
Works with sales managers to secure a reasonable profit from every sale.
Coordinates finance forecasting with sales department forecasting to achieve desired levels of penetration and income.
Ensures collection of all finance and insurance fees.
Takes all credit applications.
Prepares reports on finance penetration.
Works closely with general sales manager to establish sales department goals and objectives and ensures that they are achieved.
Attends managers meetings.
Handles all rate quotations.
Develops and monitors guidelines for working with customers to ensure maximum customer satisfaction.
Processes salespersons' ?end of month? commission sheets for accounting office payroll.
Supervises and trains designated backup to ensure continued efficiency and profitability in the F& I manager's absence.
Maintains an adequate and current supply of all required contracts and paperwork needed for completion and finalization of car deals.
Maintains a professional appearance.
Maintains a clean and professional work environment.
MARGINAL DUTIES
Marginal Duties include the following. Other duties may be assigned.
LANGUAGE SKILLS
Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format. Ability to effectively present information to top management, public groups, and/or boards of directors.
Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to write speeches and articles using original or innovative techniques or style. Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, public groups, and/or boards of directors.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
REASONING ABILITY
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
Ability to apply principles of logical or scientific thinking to a wide range of intellectual and practical problems. Ability to deal with nonverbal symbolism (formulas, scientific equations, graphs, musical notes, etc.,) in its most difficult phases. Ability to deal with a variety of abstract and concrete variables.
CERTIFICATES, LICENSES, REGISTRATIONS
Must obtain and maintain any certificates, licenses, and registrations as required by Dealership.
Must maintain valid Driver's License that meets dealership insurability requirements.
Ohio Insurance Sales license as required by Ohio Law.
Ohio Salespersons License
PHYSICAL DEMANDS
Physical Duties include the following. Other duties may be assigned.
Must be able to stand/sit for up to 8 hours without restrictions.
Disclaimer: This job description is not a contract of employment. No Dealership manager or other employee at the Dealership has the authority to make a commitment of guaranteed or continued employment to you and this job description, or any dealership publication, practice, or procedure should not be understood to make any such commitment. The job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities required of the employee.

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